31 THE NKG CODE OF CONDUCT OUR COMMITMENTS Engaging in proper business practices Honesty integrity and transparency should guide us in our business activities When dealing with customers suppliers or other business partners NKG expects us to act in accordance with the Group s interests and in line with all relevant laws and regulations No tolerance for corruption We adhere to the anti corruption laws relevant to our work in the countries in which NKG is present Respectively we must never promise authorize or offer any sort of bribery to a public official or business partner with the ulterior motive of obtaining or retaining business or an improper advantage Vice versa briberies of any kind from a third party must never be accepted 6 Preventing money laundering We must act diligently to prevent our business and or companies from being used for money laundering by third parties and to detect suspicious activity in accordance with relevant laws and regulations Complying with international sanctions Many countries where we conduct business impose sanctions or adhere to sanc tions imposed by multi national organizations such as the United Nations or the European Union We absolutely adhere to the sanctions imposed by the United Nations European Union and other sanctions if and where applicable Competing fairly We respect all stakeholders in our professional sphere including competitors We treat them as we would like them to treat us Our position as a world market leader gives us a special duty to set a good example in this area It is in our interest to work in an industry where business practices are repu table This facilitates our work and reinforces the trust of our customers Sharing any type of information such as pricing costs or marketing plans beyond the daily and informal trade dialogue can lead to the appearance real or perceived of price fixing or other types of manipulation or distortion of the free market As we are committed to fair competition we should consequently comply with applicable competition laws in the countries where we conduct business These statutes are complex and vary from one country to another In general they prohibit agreements or behavior that may restrain or alter competition or trade NKG supports responsible regulation as opposed to intervention while belie ving that markets work best even in trying times We believe in the freedom to operate however it must be earned We compete fiercely but adequate behavi or decency and predictability have to be a recognized basis for all our business activities What is bribery Bribery is the promise offering or giving of any monetary or other benefit to another person so that this person by violating their duties acts or refrains from acting to obtain or retain an undue advantage in the conduct of business Preventing corruption What is money laundering Money laundering is a generic term used to describe the process of hiding the criminal origins of money or money s worth the proceeds of crime within legitimate businesses or business activities Preventing money laundering What are international sanctions Sanctions prohibit or significantly restrict doing business with certain countries private and public orga nizations or persons as well as with organizations or persons owned or controlled by the previously men tioned International sanctions are used to combat terrorism organized crime and other illegal behaviors condemned by the international community or individual nations Complying with international sanctions 6 UN Convention against corruption